Sunny Optical Technology's 2024 Earnings Likely to Beat Expectations -- Market Talk

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Sunny Optical Technology's 2024 Earnings Likely to Beat Expectations -- Market Talk

Dow Jones02-17

0237 GMT - Sunny Optical Technology (Group)'s 2024 earnings are expected to beat expectations following its profit alert, with last year's earnings projected grow 140%-150%, UOB Kay Hian analysts say in a research report. This growth is likely due to higher average selling prices and margins in its handset business, while the profitability of vehicle lenses and modules should have remained mostly stable, the analysts say. The brokerage raises its earnings estimates for the Hong Kong-listed Chinese optical products manufacturer by 13.0%, 10.8%, and 10.7% for 2024, 2025 and 2026, respectively. It also raises the stock's target price to HK$100.00 from HK$85.00, maintaining a buy rating. Shares are 1.9% lower at HK$85.90. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 16, 2025 21:37 ET (02:37 GMT)

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